Petracca, one of the biggest names in the October 6-15 trade period, flew to Adelaide on Monday with his wife Bella and manager Anna Scullie, where he was set to meet with the Crows.
Gold Coast also have interest in the 2021 premiership Demon and Norm Smith medallist.
Petracca, 29, has played 212 games for the Dees and has four years left on his contract.
His Adelaide visit came 12 months after rampant trade speculation erupted surrounding Petracca and Clayton Oliver, before the two gun midfielders ultimately committed to Melbourne.
New chief executive Paul Guerra confirmed on Tuesday that Petracca was keen to head elsewhere for next season.
"We met with Christian late last week where he expressed his desire to explore a fresh start in 2026," Guerra said in a letter to members released on Tuesday.
"Christian is contracted for a further four years and is a once in a generation player.
"With this in mind, any decision regarding Christian's future will be made in the best interest of the Melbourne Football Club."
Guerra's comments are a clear turnaround from last year, when the Demons were adamant they would not be trading the star midfielder despite Petracca agitating for a move.
He ultimately chose to remain at the club for 2025.
The Demons finished out of the top eight this year for the second-straight season, sacking coach Simon Goodwin and appointing Steven King, who starts this week.
"As a footy club we couldn't be more excited and confident in where our AFL program is headed," Guerra said.
"We know our future success will be built on people and players who are fully committed to where we are heading."
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